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Author : Anna Lamin
Release : 2007
Genre :
Kind : eBook
Book Rating : /5 ( reviews)
Book Synopsis The Effect of Business Group Affiliation on Firm Strategy by : Anna Lamin
Download or read book The Effect of Business Group Affiliation on Firm Strategy written by Anna Lamin. This book was released on 2007. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Anna Lamin
Release : 2000
Genre :
Kind : eBook
Book Rating : 250/5 ( reviews)
Book Synopsis The Effect of Business Group Affiliation on Firm Strategy: to 25; Pages:26 to 50; Pages:51 to 75; Pages:76 to 100; Pages:101 to 125; Pages:126 to 150; Pages:151 to 175; Pages:176 to 196 by : Anna Lamin
Download or read book The Effect of Business Group Affiliation on Firm Strategy: to 25; Pages:26 to 50; Pages:51 to 75; Pages:76 to 100; Pages:101 to 125; Pages:126 to 150; Pages:151 to 175; Pages:176 to 196 written by Anna Lamin. This book was released on 2000. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Borja Larrain
Release : 2018
Genre :
Kind : eBook
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Book Synopsis The Effects of Losing Business Group Affiliation by : Borja Larrain
Download or read book The Effects of Losing Business Group Affiliation written by Borja Larrain. This book was released on 2018. Available in PDF, EPUB and Kindle. Book excerpt: We propose a novel identification strategy for estimating the effects of business group affiliation. We study two-firm business groups, some of which split up during the sample period, leaving some firms as stand-alones. We instrument for stand-alone status using shocks to the industry of the other group firm. We find that firms that become stand-alone reduce leverage and investment. Consistent with collateral cross-pledging, the effects are more pronounced when the other firm had high tangibility. Consistent with capital misallocation in groups, the reduction in leverage is stronger in firms that had low (high) profitability (leverage) relative to industry peers.
Author : Manohar Singh
Release : 2006
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Kind : eBook
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Book Synopsis Performance Impact of Business Group Affiliation by : Manohar Singh
Download or read book Performance Impact of Business Group Affiliation written by Manohar Singh. This book was released on 2006. Available in PDF, EPUB and Kindle. Book excerpt: To understand the performance implications of corporate strategies as conditioned by business group affiliations, we analyze the relationship between corporate diversification and performance for 889 Indian firms. We find that diversified firms perform significantly worse than focused firms and that there exists a significant negative relationship between the degree of diversification and firm performance. A comparative analysis of firms affiliated with Indian business groups and those affiliated with MNCs indicates that sources of negative impact of diversification on performance are conditioned by the nature of a firm's affiliation. For multinational affiliates, diversification appears to be associated with poor asset quality and asset management, which is an indicator of possible agency conflict. For domestic business group affiliates, diversification appears to generate cost inefficiencies leading to poor performance.
Author : Vikas Kumar
Release : 2008
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Book Synopsis The Performance of Business Group Firms During Institutional Transition by : Vikas Kumar
Download or read book The Performance of Business Group Firms During Institutional Transition written by Vikas Kumar. This book was released on 2008. Available in PDF, EPUB and Kindle. Book excerpt: Manuscript Type: Empirical Research Question/Issue: Institutional and transaction costs theories highlight the idea that group affiliated firms outperform unaffiliated firms in emerging economies. The persistence of superior performance for group affiliated firms is, however, questioned by the fast and recent development of markets and institutions in these countries. In this article, we explore this link between firm performance and the evolution of institutional environment. Research Findings/Insights: The setting of the empirical investigation is India in the postreform era (post 1990). We test for effects of business group affiliation on firm performance over a 17 year time period from 1990 to 2006. Our findings show that (i) the performance benefits of group affiliation erode with the evolution of the institutional environment; (ii) older affiliated firms are better able to cope with institutional transition than younger affiliated firms; (iii) service-sector affiliated firms are better able to cope with institutional transition than manufacturing-sector affiliated firms. Theoretical/Academic Implications: Our findings both support the institution- and transaction costs-based theory of business groups, and extends it by incorporating a dynamic and longitudinal component. They also demonstrate - in line with recent works - that the benefits of group membership differ for different types of member firms. Practitioner/Policy Implications: The article has implications for both managers and policy makers. Managers of business groups should timely adapt their strategy to the evolution of the institutional environment. Policy makers should, instead, devote attention to the consequences of their policies because they may undermine the efficiency of large national companies.
